Haymarket Media announced Friday morning that it has acquired the American Journal of Endocannabinoid Medicine (AJEM), a peer-reviewed journal focused on cannabinoid medicine.
Haymarket said in a press release that in addition to purchasing AJEM, which was founded in 2019 by brand director Ken Watkins, it is making another investment in the publication as part of an effort to boost its engagement with healthcare professionals (HCP) and educate the medical community on cannabinoid-based therapies.
“Adding a peer-reviewed medical cannabis journal to our portfolio reinforces our commitment to educating physicians and positions Haymarket for leadership in this emerging therapeutic area,” Haymarket Media CEO Lee Maniscalco said in a statement.
Watkins added that he is eager for AJEM to publish the “latest peer-reviewed research and medical education on the endocannabinoid system as a therapeutic target”
As part of the deal, AJEM will be folded into Haymarket Medical Network and benefit from the company’s digital capabilities to support its content distribution to HCPs.
“I am delighted to be a part of such an intelligent, collaborative effort. Haymarket’s resources will allow us to finally provide much-needed endocannabinoid education to those on the front lines of medicine,” AJEM editor-in-chief Leslie Apgar, MD said in a statement.
It’s been a busy few months as of late at Haymarket.
About one month ago, Haymarket Group unveiled financials from 2022, marked by an increase in annual profits to £16.9 million, revenues up 12% and projections for similar double-digit growth in the current fiscal year. The company also enjoyed the continued rebound in live events as the COVID-19 pandemic has shifted in endemicity and more people are traveling for business again.
Additionally, the company’s investment arm, Haymarket Ventures, announced in late January that it has invested in content creation platform Playe. The startup was founded in 2021 and enables brands to partner its global network of creatives.
At the end of 2022, Lord Heseltine announced that he would retire as chairman of Haymarket Group, 65 years after he cofounded the business in 1957. Though he is stepping down and being replaced by his son Rupert, Heseltine will remain a director on the board.